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Impact of Disclosure and Corporate Governance on the Association between Fair Value Gains and Losses and Stock Returns in the Commercial Banking Industry
2008
Social Science Research Network
An effective risk management process enables a bank's management to measure and monitor risk, generate credible data, use sophisticated tools and provide fair value estimates, potentially of higher quality. Although the actual risk management process is unobservable to outsiders, disclosure relating to the risk management activities and corporate governance that monitors it reveals its effectiveness to the market participants. Using the association between stock returns and fair value gains and
doi:10.2139/ssrn.1262946
fatcat:n7ttcjakl5ec7aia2kmr5qjdd4